Chase Private Client Review 2023: Fees and Requirements




JPMorgan Chase Bank offers the invitation-only service called Chase Private Client as a private banking option. It offers a three-pronged strategy emphasizing banking, lending, and investing counseling to satisfy the demands of someone looking for a more individualized account management experience. 

The advantages of this program might be enough to entice you if you have ever thought about using private banking. But before accepting the special invitation, prospective customers should be aware of the expenses and financial commitments necessary to access all facets of this exceptional service.

Contrary to many private banks, Chase Private Client does not require a minimum balance in your bank or investment accounts. To avoid the $35 monthly service charge for Chase Private Client Checking, you do need $150,000, though.

But is this the right banking experience for you? Let’s get to the decision via this comprehensive review of the service. Continue reading as we explore the different perks of signing up for the Chase Private Client platform in the following sections. Let’s get started.


  • No fees to join or maintain CPC status: Any program-related fees are not itemized in Chase Private Client.
  • Offers priority contact with Chase Bankers and advisors while offering several real-time benefits.
  • Excellent savings on mortgage and auto loan products.


  • Limited to users via invitation, Chase Private Client is very strict about its qualification. Only users meeting a regular average of $150,000 under different combinations are eligible for application.
  • Minors are not eligible to join the CPC: Most minors do not have at least $150,000 in liquid assets to their names.

Chase Private Client At A Glance

Headquarters  New York City, USA
Founded 1st September 1799
Key people Jamie Dimon (Chairman and CEO)
Parent JP Morgan Chase
Industry  Banking
Number of employees  250, 355 (2022)
Services Retail financial,Card services andCommercial Banking 
Area served USA

Chase Private Client: Company Overview 

The Chase Private Client (CPC) designation is an elite for high-balance Chase banking and investing clients. It is benefited from a more individualized, needs-based banking experience.

You receive special benefits, such as ‘the private banker.’ Private guidance with the investing strategy from a professional Payment of banking fees rate reductions on loans for homes and cars support company needs in the form of advice. So it’s a personal relationship as well as a banking one. 

Discover each benefit’s specifics by reading on. Then, we’ll discuss whether we believe they are worthwhile given the high standard. Any combination of one’s qualified personal checking, savings, and investment accounts must have an average daily balance of $250,000 or more for you to be eligible.

To join, there is no membership cost. All you need to do is keep the required minimum balance. According to some reports, if your balance goes below $250,000, you may still be able to maintain your CPC status.

In any combination of the qualifying personal checking, savings, or investment accounts with Chase, an average daily balance of $250,000 or higher should be maintained. In addition, an invitation to upgrade to Chase Private Client will be extended.


Features of Chase Private Client

Being a private, ‘invitation-only’ banking service, the CPC account format stands for itself! The platform introduces its guests to several possible features and functionalities that make it one of the most sought-after platforms in the banking industry. 

Now, if you’ve been wondering what makes it unique, it’s time we checked out the different core features of the platform in the following section: 

Private Client Banker

This is the person to be contacted at Chase Bank. The liquid assets will be managed, possibilities to boost account yields will be found, and credit solutions that suit the clients’ requirements and objectives will be recommended. Once you’ve aligned with the provided information, the banker acts as a liaison between other specialists and departments of Chase. The Chase 5/24 rule, which prohibits Chase credit card applicants from opening more than five new credit cards in any 24 months, irrespective of income or creditworthiness, may also be informally waived for CPC members. 

This exemption, however, is merely anecdotal—Chase doesn’t advertise it and doesn’t even admit it—and may be at the banker’s discretion. Customized Financial Analysis that evaluates the relative risks and rewards of suggested investing strategies is the first step in every consulting relationship. Although most new Private Client members already have funds managed by Chase, private Client Advisors serve as sales channels for the investment management team.

Unique Banking Experience

The exclusive perks of a CPC client are one of the primary features of the banking experience in itself! Access to the CPC banking account provides the users with several different features and functionalities, allowing them to make the most of the platform. Users who get access to the Chase Private Client program receive a few extra bonuses, which make the transaction more enticing while not the program’s primary draw. 

One illustration is the Chase Private Client Arts & Culture program. It provides CPC members unique access to prestigious cultural institutions, including museums and historical places, often behind closed doors. Replacing international rush debit and credit cards is one of the more useful extra perks, no matter where you are.

Personalized Banking At Its Finest

Every Chase Private Client subscriber gets a personal banker assigned to them for all facets of account administration. A dedicated home loan adviser will be provided to the customer if they require the mortgage services section. 

A JPMorgan private adviser will be appointed for investments with Chase to carry on the heritage of individualized advice with the range of Chase products. The specialized Company Relationship Manager, who offers individualized assistance and advice for business financial solutions and finance, as well as cash flow management, may also be liked by small business owners.

Benefits That Increase In Number

Private banking members get several benefits, including access to the devoted staff. Moreover, the initial overdrafts (4 per year), outbound or inbound wire transfers, and ATMs (including the non-Chase ATMs) don’t attract costs. In addition, users are entitled to a higher restriction on daily purchases via a debit card (up to $7,500) and regular ATM withdrawal limits up to $3,000 compared to the other traditional Chase accounts.

In addition, members signing up for the banking experience can also receive higher interest rates on vehicle and home loans. Customers get access to numerous entertainment options throughout the year. 

Flexible Membership Criteria

Affordability is another aspect of the CPC banking experience for its users! Certain private banks have high minimum monthly balance requirements to remain private banking institutions. However, once you become a client of Chase Private Client, you do not require a minimum balance to keep your position. 

Besides, to avoid the $35 monthly fee, you must keep a minimum amount of $150,000 in the Chase Private Client account. The specialized Business Relationship Manager, who offers individualized assistance and advice for business financial solutions and funding, as well as cash flow management, may also be liked by small business owners.

Additional Features Of The Platform

Those mentioned above were some of the core features of the banking experience. However, that’s not all! Besides the primary features, Chase Private Client also allows users to make the most of their additional features. To help you understand better, we’ve listed some of them in the following section: 

  1. No fees to join or maintain CPC status: Any program-related fees are not itemized in Chase Private Client. Maintaining CPC status may reduce your total banking costs by waiving common account and transaction fees. However, if you choose to forego free DIY investing through You Invest by J.P. Morgan, those gains may be more than offset by managed investment fees.
  2. Excellent savings on mortgage and auto loan products: CPC members also get ideal mortgage and auto loan discounts: up to 0.5 percent, depending on the product and relationship balance. Despite fierce competition for your business elsewhere, these discounts may be enough to keep your home and auto loans with Chase. Besides, this account will compensate its clients for any domestic ATM fees.
  3. Real-time fraud monitoring: What distinguishes the banking experience with Chase Private Client is the seamless security that permeates every facet of it. A debit card is suddenly used in a different area, or you make a sudden spate of expensive purchases, for example. The platform verifies and monitors transactions for possibly unlawful behavior in these cases. 
  4. Reliable mobile banking services: The Chase Private Client’s flawless mobile banking experience is yet another dependable aspect. Users who join the service have access to banking that enables online or mobile app-based money management. This includes using a mobile app on a smartphone to deposit checks into the account.
  5. Benefit of Family Banking (Free Debit Cards): A great benefit for parents looking to teach older children about money without losing the reins is the free family debit cards to which CPC members are entitled. These cards have flexible spending and withdrawal limits.
  6. Minimum balance reductions: The banking experience charges minimum balances on services like Chase Platinum Business CheckingSM accounts. For Chase Total Business Checking accounts, there is no monthly service cost. Besides, there are no electronic deposit fees on Platinum Business Checking and Total Business Checking accounts. Individualized advice on working capital, long-term financing, and business payment options.

How Secure Is the Chase Private Client?

According to data from the Federal Reserve, JPMorgan Chase is the biggest bank in the country and one of the oldest. In addition to its well-known rewards credit cards, Chase provides a wide range of personal banking services and products.

One of the checking account options offered by the bank is Chase Secure Banking. To help connect underbanked and unbanked people with affordable deposit accounts, Chase Secure Banking has been Bank On certified since 2019. Bank On is a national standard for low-cost, low-fee bank accounts.

Chase Secure Banking provides access to Chase Credit Journey. Customers of Chase can access this free tool to check their credit score, get specific advice on improving it, and sign up for alerts to safeguard their accounts and personal data.

Chase Offers is another feature accessible to Chase users. Customers can access and activate special offers from various businesses and services through their online accounts or the Chase mobile app. In addition, you have access to the highly regarded bank’s mobile app through Chase Secure Banking, as is true for all Chase customers. 

Fee Structure of Chase Private Client

In essence, Chase Private Client is a wrap account. This means that consumers will pay a fixed fee for all household assets that are being managed. All household assets will be counted, including taxable, checking, credit, and IRA money. The account has a fixed charge of 1.25 percent of assets each year, although it is only billed quarterly. Besides, a different class of mutual funds charges the user’s management fees from 2.25 – 2.5% per year.

In addition, few account and transaction fees (if any) are paid by Chase Private Client members compared to those that apply to most other Chase clients. For example, CPC members do not pay for: 

  1. Fees for checking accounts
  2. Charge for wire transfers, foreign transaction costs for debit cards
  3. Foreign exchange commissions
  4. ATM fees
  5. Rent for safe deposit boxes is only available in 3″ x 5″ sizes; larger boxes are discounted by 20%.
  6. Customary costs for personal checks
  7. Fees for cashier’s check

Overall, Chase Private Limited is a fulfilling banking experience that has its charges for its services but provides similarly reliable services. Therefore, Chase Private Client might be another valuable addition to your experience if you are a premier bank account holder

Account Opening With Chase Private Limited 

Being a premier banking experience, there’s only a specific requirement to get started with the overall experience for the Chase Private Client. However, if you’ve been trying, you might want to follow the listed steps:

Step 1: Visit their website and click “open account.”

Step 2: On the right side of the page, click on open account now beside the log-in option to create a new account.

Step 3: Based on your needs, select the type of account you want, such as an individual account.

Step 4: Read all the information about the risk disclosure agreement.

Step 5: Fill in all the necessary information for opening the account and click on Create an Account.

Chase Private Client - open account

Once done, you will receive an email confirming that your application is being processed, as well as another email requesting that you fund the account later.

Unfortunately, the program is currently only available to residents of one of the eight regions served by this program (Arizona, Chicago, Florida, New York City, Northern California, Seattle, Southern California, and Texas).

Note: The only way to become a Chase Private Client is by invitation. A person will probably get a notification when they reach or surpass the average daily balance criteria indicating that they qualify for CPC membership.

Customer Satisfaction

With the major retail banks in the nation, seamless digital capabilities and strong checking account and credit card products have become the secret to client delight. According to the J.D. Power 2018 U.S. National Banking Satisfaction StudySM, which was just released, Chase ranks first by consistently outperforming its competitors in this formula and excelling at preventing and resolving customer issues. On a scale of 10 points, Chase receives the highest overall satisfaction score (8.54), followed by PNC (8.49) and U.S. Bank (8.39). 

The survey, currently in its second year, offers an in-depth analysis of customer experience across all retail bank product lines for the six national banks in the United States, which account for 44% of all domestic deposits. Using six criteria—channel interactions, deposit accounts, credit accounts, investment accounts, convenience, and problem resolution—it assesses the bank customer experience.

The Chase Private Client’s customer-focused idea is a hit among clients with over $150,000 in liquid assets. 

Criteria for Chase Private Client Qualification

To get started with the CPC trading experience, you need to maintain an average daily balance of at least $150,000 in any combination of acceptable Chase deposit and investment accounts to be eligible for Chase Private Client membership. To continue to be a member of the CPC, the balance should be kept over this threshold each month.

Certain Chase Business Banking customers are eligible to join as Chase Private Clients. If they already have a relationship with Chase Business Banking, they must talk to their business banker about how to become eligible if they don’t currently have a card.

Chase Private Client Vs. Competition

Chase Private Client is an account developed for individuals with high net worth. The platform is aimed toward a personalized baking experience and ensures that the users make the most of their everyday banking via exclusive features and great rewards. However, similar to the pros, there are certain drawbacks to the banking experience. 

Therefore, if you think Chase Private Client isn’t the right option, you might want to read its comparison with competitor Wells Fargo High-Net-Worth Accounts in the following section. So let’s check it out. 

Chase Private Client vs. Wells Fargo High-Net-Worth Accounts

Chase Private Client and Wells Fargo High-Net-Worth Accounts operate around a simple approach of personalized banking experience for their HNWI (high-net-worth individuals). While both the platforms offer a similar banking experience for their users, they share some differences too. 

Let’s get into the depth of these differences in the following chart: 

  Chase Private Client  Wells Fargo High-Net-Worth Accounts
Our Rating    
Additional Offer One of the primary perks of signing up for Chase Private Client is that they're entitled to a $750 discount on the closing costs.  Users of the platform are entitled to receive a faster closing on their loans and access to special sensor underwriting priority processing.  This banking process allows users to adjust their amortization principal vs. interest. This way, customers can leverage cash-only real estate deals.  Clients with small businesses get access to hands-on management from industry experts.
Cards Chase provides its users a Chase Sapphire Reserve card, offering them a travel credit of $300 annually. In addition, users also get Chase Sapphire Preferred cards, giving them points for traveling.. Wells Fargo provides its users with a Visa Signature. This card allows users to earn three points for every dollar spent on dining, travel, and additional purchases. Besides, there are no additional costs to this card.
Access To Personal Advisor Chase Private Client provides its clients with a dedicated advisor limited to one client and assists them with executing and planning investments. Wells Fargo provides its users with a contact form; after filling it up, a bank representative calls you for discussion.

Looking at this short review, it’s evident that Chase Private Limited offers better services. 

Final Verdict

Should You Consider Using Chase Private Client?

Elite status for Chase clients with at least $150,000 in investments and accounts. Immediate family members of CPC clients with a joint statement with Chase are also eligible for these perks.

The benefits included waived fees, lower minimum balance requirements for some accounts, investing guidance, and lower mortgage rates.

  • Minimum Interest Rate: $250,000 is a sizable sum of money to commit. Higher APYs are offered by online savings accounts, which can result in a growth of thousands of dollars.  But remember that you can also have money in a Chase investing account. As a result, you can still invest while taking advantage of CPC.
  • Waivers of banking fees: Although it’s wonderful that many banking fees are removed, other banks provide some of the exact fee perks without having such a large balance requirement. How frequently will a customer use banking services like wire transfers or cashier checks! 
  • Better interest rates: Users accessing the Chase Private Client banking feature allows users to get better interest rates from the bank. Not to forget, they’ll also be entitled to lower interest rates on bank loans. 
  • Personalized client management: Personalized client management via a dedicated manager is preferably one of the most reliable features of the platform. Users signing up for the banking experience get access to personal managers for convenience. 

Shortcomings Of Chase Private Client

  1. Credit Card Advantages: There is no advantage to this. The user will be unable to avoid the Chase 5/24 regulation even if they are a member of  CPC. Additionally, a customer can apply for the Chase Sapphire Reserve or Chase Sapphire Preferred without being a CPC in the first place.

This brings us to the end of our comprehensive review of the Chase Private Client banking experience. Looking at the different offerings over the platform, it’s evident that it is unique and brings out the best of banking for every user. However, similar to the perks, there are certain drawbacks to the platform. 

Therefore, if you’re one of those users who like to maintain a minimum account balance, Chase Private Client won’t be the perfect option for you. Here, we suggest you look for some other banking experience. 


Q1. What assets must I possess to qualify as a Chase Private Client?

You must maintain an average of $150,000 in Chase assets and accounts daily to be eligible to become a Chase Private Client. In addition, if you share an account with a member of your immediate family who is a Chase Private Client, you may also be eligible for Chase Private Client advantages. 

Q2. What is a chase private client?

A banking and a financial program called Chase Private Client is available to specific Chase customers. A personal banker, discounted mortgage rates, business banking privileges, and investment consultants are a few advantages. 

Q3. How much money does a private client of Chase make?

Any Chase Private Client Banker typically earns $46,656. However, this doesn’t give you an idea of the overall banking experience the platform offers. 

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